Ivanhoe Mines reports 76,401 tonnes of copper in saleable products in Q3
Higher mining rates and record concentrator recoveries support Q3 output, while record sulphuric acid production and expanded solar power capacity strengthen operational performance at the DRC copper complex
Ivanhoe Mines reported 76,401 tonnes of copper in saleable products from its Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC) in the third quarter of 2026, supported by higher mining rates and improved concentrator recoveries.
The production results, announced by Executive Co-Chair Robert Friedland and President and Chief Executive Officer Marna Cloete on October 8, included 61,506 tonnes of copper in anodes produced by the on-site smelter, 2,347 tonnes of copper in blister from toll-treated concentrate at the nearby Lualaba Copper Smelter, 5,645 tonnes of copper in slag concentrate and 6,904 tonnes of high-grade copper fines designated for sale to third parties. <Cite refs={[“turn627852view0”]}/>
Copper in concentrate produced by the Phase 1, 2 and 3 concentrators totalled 68,188 tonnes, up from 61,134 tonnes in the second quarter.
Mining rates across the Kamoa and Kansoko mines increased by 30% during the quarter to more than 700,000 tonnes per month, equivalent to approximately 8.5 million tonnes annually. Following modifications to the Phase 1 and 2 concentrators, average copper recovery reached a quarterly record of 89%.
Ivanhoe maintained its 2026 production guidance of 290,000 to 310,000 tonnes of copper in saleable products, although output is trending towards the lower end of the range.
The Kamoa-Kakula smelter produced a record 118,638 tonnes of high-strength sulphuric acid in Q3. Average net realised sales prices approximately doubled from the previous quarter to US$900 per tonne, including an average of about US$950 per tonne in September.
The acid is sold to nearby mining operations on the DRC Copperbelt for use in leaching copper and cobalt from oxide ores.
Kamoa-Kakula’s new 60-MW hybrid solar facility with battery storage became fully operational in September, providing continuous baseload power to the complex. The ramp-up reduced diesel consumption by on-site backup generators by approximately 40% in September compared with July.
Ivanhoe says it has signed additional power purchase agreements to double the facility’s capacity to 120 MW within 18 months.
Unsold copper inventory increased from approximately 40,000 tonnes at the start of Q3 to 43,000 tonnes at quarter-end. During the quarter, 6,904 tonnes of previously stockpiled high-grade copper fines were assessed and tendered for sale. These materials could not be smelted on-site or at the Lualaba Copper Smelter and have been designated for sale to third parties.
Ivanhoe expects additional stocks of high-grade copper fines to be assessed and tendered for sale in the fourth quarter.
